Debt help-IVA

[Nadia86]

Was wondering if anyone here consolidated their debt into IVA arrangement with the help from Advice Dept Help? Just had a phonecall with them ,given advice and options to help with my debt.
Has anyone used IVA or this patricular company? Im not saying I will ,but I am currently looking at options to lower my monthly loan payments and simply looking for opinion from others.

First question is to be clear that an IVA is right in your circumstances. There's a massive issue with advisers pushing IVAs where the main benefit is to them (fees) and not the person owing the debts.

https://www.theguardian.com/money/2023/jul/08/cut-debt-in-fees-iva-repayment-plan

There may be other options.

Try independent charitable advisers such as Stepchange or National Debtline.

Loads on CA website too www.citizensadvice.org.uk

Thanks. Im in Scotland so it would be a protected trust deed not IVA. Just reading about it some more.

If I can advise, if you do go down the IVA route, please adhere to the agreement if you do get an IVA.
Any change in job, income, change of address must be updated as soon as possible with the IVA partner.
I have friends who work as bailiffs and high court judges who deal with cases of IVA breaches.
One such case is a lady who had an agreement processed through the courts around four years ago. She has never updated them on any changes. She has lived at four different addresses and relocated across country, and works in a different job role. She has also received thousands of pounds and never declared any of it.
She is now in breach of her agreement, which is classed as contempt of court. Because of her 'avoidance' to update the IVA partner to such a degree, there is a strong chance she will serve time in prison as a result.

So please make sure that an IVA is the best route to follow